Is it time you saw a financial advisor?

23-Feb-2011
Most us, when it comes to our physical or emotional health, are quick to get professional advice. We see dentists and doctors, massage therapists and personal trainers. Even our pets get a look-in, with trainers, groomers and walkers. So why should we treat our financial affairs any different?

Bringing in an independent financial advisor can give peace of mind, so that your lifestyle – both present and future – can be well planned for, and limit nasty surprises when it comes time to buy your first house, deciding on investments, or saving for retirement.

So how do you know if it is time to see a financial advisor? Put simply, if you are looking at issues such as mortgages, pensions, insurance, investment, tax or any other large financial commitment, an independent financial advisor (IFA) could prove invaluable.Financial Services Compensation Scheme has released research that showed more than £7 billion in cash was lying around people's homes in the UK. This excluded money in people's wallets, and while 37% of those questioned had less than £20 at home, 4% had over £1,000 – including 1% who were hoarding more than £10,000.

As many as 32% felt that there was no point in depositing money with financial institutions when interest rates are at historically low levels. SimplyFinance.co.uk has an extensive directory of over 25,000 independent financial advisers, and can connect you to one who has the expertise in the area you need – so no more mattress stuffing required.

When choosing your financial advisor, don't be shy to ask what qualifications your financial advisor has. While government bodies regulate the industry, you have the right to check out where your advisor has studied, and to ensure that they have relevant professional memberships to organisations such as the Financial Services Association.

By bringing on board a financial advisor to help sort out your financial health, you are likely to feel more in control of your situation, and less likely to lose sleep over how to properly budget for your situation.